Save Article

Siemens's Outlook Dims
As Several Projects Struggle

By

Mike Esterl

Updated March 17, 2008 12:01 a.m. ET

German engineering giant Siemens AG issued a profit warning early Monday, estimating that weaker-than-expected performance in major business projects would drag down earnings in the current fiscal quarter by about &euro;900 million ($1.4 billion).

The disclosure represents a dramatic shift in outlook for the globe-trotting conglomerate, which makes everything from high-speed trains to medical scanners and power generators.